Merit Acquires $542M RIA in Washington  

Merit Financial Advisors, a Georgia-based hybrid registered investment advisor managing $10 billion in assets, is expanding its presence in the Pacific Northwest with the acquisition of $542 million Spokane, WA-based Viren and Associates, Inc. 

Founded by Paul and Beth Viren as a financial planning firm, Viren also specializes in retirement plans, life and disability insurance, and group employee benefits. Viren’s team of two additional financial planners and client support professionals will also join Merit. 

“The strategic partnership between Merit and Viren is a major milestone that sets Merit up for significant future success, specifically with the expansion of Merit’s qualified retirement plan and advanced insurance service offerings,” said Tait Lane, regional director and partner at Merit. 

The deal is Merit’s fourth Washington office and the 25th acquisition since taking a minority investment in December 2020 from Wealth Partners Capital Group (WPCG) and a group of strategic investors led by HGGC’s Aspire Holdings platform. 

Merit offers securities through LPL Financial and has over 40 offices across the country overseeing $7.15 billion in advisory assets, $2.7 billion in brokerage assets and $242 million in assets under advisement as of the end of 2023. 

Last month, Merit introduced an affiliation model for advisors – Merit Amplify – to provide financial advisors and their firms with an additional way to collaborate with the firm outside of traditional mergers and acquisitions.